National Economic Council Director Kevin Hassett speaks to reporters after attending a meeting at the U.S. Capitol Building on April 28, 2025 in Washington, DC. (Photo by Anna Moneymaker/Getty Images)

Prabhjote Gill·Stocktwits

Updated Jul 02, 2025 | 8:31 PM GMT-04

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The Trump administration is nearing completion of three trade agreements and anticipates more to follow, White House economic adviser Kevin Hassett said Thursday, downplaying the impact of a trade court ruling that invalidated most of President Donald Trump’s tariffs.

"There are many, many deals coming. And there were three that basically look like they're done," Hassett said in an interview with Fox Business Network.

According to him, the trade court ruling will not impact any ongoing negotiations or any of the deals that have already been finalized. He also stated that he was confident the Trump administration would win on appeal.

“If there are little hiccups here and there because of decisions that activist judges make… it’s certainly not going to affect the negotiations because, at the end of the day, people know President Trump is 100% serious,” said Hassett.

Although he did not divulge which three deals are on the table, Hassett said that they were ready for Trump’s decision as of last week.

The administration's view is that numerous countries will open up their markets to American products in the next month or two, Hassett said.

The Trump administration has so far struck deals with the United Kingdom, the United Arab Emirates, Qatar, and Saudi Arabia while also agreeing to a 90-day tariff truce with China. Market watchers are hopeful that a deal with India will be announced next.

However, Hessett declined to comment on whether a deal with India is close to being finalized. “The President has to decide finally,” he said.

He also signaled that a deal with the European Union is unlikely in the near term, citing disagreements among the bloc’s member states.

“They can’t make up their own minds on many issues,” he said. “Giving them a bit more time to sort things out internally was a prudent decision by the President. I believe we’ll eventually see more reasonable positions take shape in the EU talks.”

The broader market traded in the green after the federal court’s ruling on Trump tariffs. The SPDR S&P 500 ETF Trust (SPY) gained 0.47%, while the SPDR Dow Jones Industrial Average ETF (DIA) edged 0.08% higher. The Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, rose 0.6%.

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